07-05-2013, 09:11 AM
NLY, along with the other mREITs, is getting killed today. The current price is way below what I bought at, and I am sorely tempted to buy more to average down my price. But this is already on the "speculative/high yield" end of my portfolio and I'm not inclined to add a bunch more as a long-term holding, and so -- for the moment -- I am going to hold off. I did buy a few contracts of the October 2013 $11.00 calls, though, on the notion that this is a panicky sell off and there will be some kid of a recovery in the short term. Wish me luck!